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First announced in January, the deal will see Torque acquire all of Aston's fully paid ordinary shares.
Aston’s delisting from the ASX is underway, with trading suspended on May 29. The company applied for termination of official quotation and removal from the ASX on the day the merger got the green light.
Torque's Western Australia-based Paris gold project will be one of the combined company's main assets.
Significant progress has been made at Paris recently, with Torque sharing the discovery of a new zone of shallow gold mineralisation at the site. The company also reported additional high-grade results from a drill campaign.
In May, Paris received AU$144,500 from the Australian government’s Exploration Incentive Scheme. The company said at the time that the funds would be used for forthcoming drilling.
“The immediate focus is on further defining shallow gold lodes and advancing Torque's first mineral resource estimate and maiden gold exploration target,” said Torque Managing Director Cristian Moreno.
Together, Torque and Aston will have 1.75 million ounces in gold resources across their exploration projects, focusing on areas in the Western Australian Goldfields and in Ontario, Canada.
Gold remains a coveted asset in 2025, with a projected record high average annual price of US$3,210 per ounce.
The new company will be led by Moreno, who will take the role of managing director. The board will also include existing Torque director Evan Cranston and Aston director Tolga Kumova.
